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Chapter 7 bankruptcy is a "liquidation" bankruptcy in which a debtor's assets are sold or liquidated in order to pay off creditors. The debtor is entitled to retain a small amount of assets (called "exempt" assets - see: http://www.nolo.com/legal-encyclopedia/maryland-bankruptcy-exemptions.html), but these exemptions generally do not cover all of your assets if you have significant assets (such as a home).
You can consider a Chapter 13 bankruptcy (a debt repayment chapter) in which your "disposable income" is used to repay your creditors over a 5 year period (creditors must receive at least as much in your Chapt. 13 plan as they would in a Chapt. 7 liquidation), but please carefully review the terms of any such plan, 5 years is a long time and modification of a plan to adjust for unexpected decreases in income can be very difficult to get.
I would strongly advise that you speak with a local bankruptcy attorney prior to filing any bankruptcy (especially as you are a homeowner). While it is possible to file for bankruptcy protection on your own, it is not a very good idea and an attorney can help you maximize your post-discharge financial position as well as ensuring you do not make errors in your petition which can have significant impacts on the dischargability of your various debts.